Preparing for Class 10 ("Building Ocean Innovation Ecosystems"), Class 11 ("Leading Systems Change"), and Class 12 ("Theory of Change")

Part of my insider series tracking the conversations in my MBA course "Climate, Sustainability, and Corporate Governance"

Hope you are all enjoying the conversations in Climate, Sustainability and Corporate Governance so far. We have covered a lot of ground in our first 9 sessions, and have a couple more sessions this week on “Leadership and Change” this week before wrapping up our final class on October 14. See below for directions on how to prepare for these final sessions.

Coming Up in CSCG: Leadership & Change (Sessions 10–12)

Over the next three sessions, we turn to the final arc of the course—Leadership & Change—exploring how innovation, governance, and personal agency intersect to create systemic transformation. We’ll move from the collaborative ingenuity of the Iceland Ocean Cluster, to the audacity of Patagonia, and finally to your own Theory of Change.

Class 10 — Building Innovation Ecosystems (Tuesday, October 7)
Abridged case: The Iceland Ocean Cluster and the 100% Fish Revolution: Creating Innovation Ecosystems
Guest Speaker: Dr. Thor Sigfusson, Founder, Iceland Ocean Cluster

This session examines how innovation ecosystems can accelerate the growth of the blue economy—creating value from marine resources while advancing ocean sustainability. We’ll explore how Iceland’s “100% fish” philosophy transformed waste into wealth and how collaborative networks can spark new industries around regenerative ocean solutions.

Preparation:

• Read the Iceland Ocean Cluster abridged case study and the background materials below.

• Question to consider: What makes an innovation ecosystem thrive—and how can we replicate it without losing its authenticity and local roots?

Readings

• Vermeer, D. (2025). The Ocean Innovation Playbook: A guide to building and scaling blue economy ecosystems. Substack.

• World Economic Forum, Ocean Risk and Resilience Action Alliance, Builders Vision, & Katapult Ocean. (2025). Making waves in the regenerative & sustainable ocean economy: Transformative ocean investment opportunities (pp. 4–28). World Economic Forum.

• MBA EDGE. (2025). The blue economy: What every MBA needs to know. MBA-EDGE.com.

Class 11 — Leading Systems Change (Friday, October 10)
Abridged case: Patagonia’s Strategic Pivot: The Business Case for Giving It All Away

We’ll analyze Patagonia’s revolutionary decision to transfer ownership to a nonprofit dedicated to protecting the planet. What began as an act of corporate conscience has become a test case for post-capitalist governance—raising questions about ownership, accountability, and replication.

Preparation:

• Read the case and the following materials.

• Question to consider: If your organization wanted to pursue true systems change, where would you start—governance, culture, or capital?

Readings

• Chouinard, Y. (2022). Earth is now our only shareholder. Patagonia.

• Harvard Business Review. (2022). What happens when a company (like Patagonia) transfers ownership to a nonprofit? HBR.org.

• Sustainability SmartPod. (2022, October). Patagonia’s Vincent Stanley on the future of the responsible company [Podcast]. Sustainability SmartPod.

Class 12 — Designing Your Theory of Change

Tuesday, October 14
Activity: Personal Theory of Change Presentations

We’ll close the Leadership & Change module by bringing the work home. Each of you will present and refine your personal Theory of Change (TOC)—a structured way to link your actions and leadership to larger systems of social and environmental impact. This session integrates everything we’ve explored this term: systems thinking, innovation, purpose, and agency.

Preparation:

• Read the USAID Theory of Change Workbook (pp. 1–21).

• Listen to the Scene on Radio episode below for a provocative reimagining of the economy’s purpose.

Readings

• U.S. Agency for International Development (USAID). (2024). Theory of change workbook (pp. 1–21). USAID.

• Scene on Radio. (2024, September 18). Season 7, Episode 12: Reimagined economies [Podcast]. Scene on Radio.

---

Connecting the Arc

Across these three sessions, we’ll move from collective innovation (Iceland) to organizational transformation (Patagonia) to individual leadership and purpose (your TOC). Together, they complete our exploration of how sustainability transitions actually happen—not as isolated acts of heroism, but as coordinated, multi-level change across ecosystems, institutions, and individuals.